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Re: News Releases - Monday, May 09, 2011
Minaurum Drills 29.05 m of 1.99 g/t Gold at Aurena Project Drill
Program Expanded to 6500m
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Minaurum Gold Inc. ("Minaurum") is pleased to announce the results of
the first five drill holes targeting a 3 km long by 1.5 km wide surface
gold geochemical anomaly on its Aurena gold-skarn project in southern
Mexico (See News Release dated October 19, 2010) All five holes, and
four additional holes for which assays are pending intercepted
significant thicknesses of sulfide-bearing prograde skarn-altered
rocks. Based on these encouraging results, the program has been
expanded to 6,500 m.
The holes were drilled along the access route from the fringes of the
gold geochemical anomaly towards its centre. Hole AURC-11-005 was
collared and drilled vertically in the surface gold anomaly. Starting
at surface, it cut 29.05 m of 1.99 g/t Au, including 19.15 m of 2.60
g/t Au and 4.18 g/t Ag. The highest grade sample was 5.90 g/t Au.
Mineralization is sulfide-rich with no evidence of significant surface
or oxide enrichment.
Vertical hole AURC-11-002, 275 m to the north of AURC-11-005, cut 7.66
m assaying 1.13 g/t Au from 39.50 to 47.16 m. Vertical hole
AURC-11-001, 367 m to the north of AURC-11-005, drilled through a cap
of altered metavolcanic rocks before entering mineralized skarned
sedimentary rocks containing 1.44 g/t Au over 20.50 m from 160.50 to
181.00 m. Holes AURC 003 and 004 contained anomalous values but appear
to lie across a major fault lying east of the other holes.
"Hitting gold mineralization in 3 of the first 5 holes is a very
positive first step in confirming the potential of this gold-skarn
system," stated Darrell Rader, President and CEO of Minaurum Gold, "The
exploration team has already combined these results with our
geophysical and geochemical data to generate additional high-potential
targets that warrant immediate expansion of the drill program."
The holes were drilled in a 0.3 square km area within an overall
exposed skarn-hornfels system of at least 7.5 square km. Geologic
indicators from the drilling, such as a lack of intrusions directly
associated with mineralization and high gold/silver and gold/base metal
ratios, suggest that the reported drill holes may lie at the fringes of
a stronger system. The strong mineralization in Hole AURC-11-001 lies
immediately beneath a cap of relatively impermeable metavolcanic rocks,
which largely mask the underlying mineralization. This suggests that
extensive "blind" mineralization may extend under this cap to the west
and north; this concept will be tested by the expanded drill program.
A total of 3,430 m have been drilled to date.
Highlights from holes AURC-11-001, AURC-11-002, and AURC-11-005
include:
Minaurum Gold is an explorer focusing on gold-dominant metals deposits
in Mexico. The Company is currently advancing a portfolio of projects
including the Aurena gold-skarn project.
Qualified Person: Mr. Stephen R Maynard, M.S., C.P.G., has acted as the
qualified person as defined in National Instrument 43-101 for this
disclosure and supervised the preparation of the technical information
in this release.
ON BEHALF OF THE BOARD
"Darrell A. Rader"
Darrell A. Rader
President and CEO
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this news release.
1500 - 409 Granville St.
Vancouver, BC V6C 1T2
Telephone 778 330-0994
www.minaurum.com
info@minaurum.com
Quality Assurance/Quality Control: Preparation and assaying of
drilling samples from Minaurum's Aurena project are done with strict
adherence to a Quality Assurance/Quality Control (QA/QC) protocol.
Core samples are sawed in half and then bagged in a secure facility
near the site, and then shipped by a licensed courier to ALS Minerals'
preparation facility in Guadalajara, Jalisco, Mexico. Pulps of the
samples are prepared in Guadalajara, from where they are shipped to
Vancouver for chemical analysis by ALS Minerals. Samples are analyzed
for gold by fire assay and ICP/AES on a 50-gram charge. In addition,
analyses are done for a 51-element suite using aqua regia digestion and
ICP analysis.
Quality-control (QC) samples are inserted in the sample stream every 20
samples, and thus represent 5% of the total samples. QC samples
include standards, blanks, and duplicate samples. Standards are pulps
that have been prepared by a third-party laboratory; they have gold
values that are established by an extensive analytical process in which
several commercial labs (including ALS Minerals) participate.
Standards test the calibration of the analytical equipment. Blanks are
rock material known from prior sampling to contain less than 0.005 ppm
gold; they test the sample preparation procedure for cross-sample
contamination. In the case of duplicates, the sample interval is cut
in half, and then quartered. The first quarter is the original sample,
the second becomes the duplicate. Duplicate samples provide a test of
the reproducibility of assays in the same drilled interval.
When final assays are received, QC sample results are inspected for
deviation from accepted values. To date, QC sample analytical results
have fallen in acceptable ranges on the Aurena project.
Forward Looking Statement: Some of the statements contained in this
press release are forward-looking statements. Forward-looking
statements are not historical facts and are subject to a number of
risks and uncertainties beyond the Company's control, including, but
not exclusively, statements regarding potential mineralization,
exploration results, completion of work program and studies, and future
plans and objectives of the Company. Resource exploration, development
and operations are highly speculative, characterized by a number of
significant risks, which even a combination of careful evaluation,
experience and knowledge may not eliminate, including, among other
things, unprofitable efforts resulting not only from the failure to
discover mineral resources but from finding mineral deposits which,
though present, are insufficient in quantity and quality to return a
profit from production.
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Copyright (c) 2011 MINAURUM GOLD (All) All rights reserved. For more
information visit our website at http://www.minaurum.com/ or send
mailto:info@minaurum.com
Message sent on Mon May 9, 2011 at 2:29:13 PM Pacific Time
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Minaurum Gold
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EXPLORATION STAGE |
CODE : MGG.V |
ISIN : CA60252Q1019 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Minaurum Gold is a gold and silver exploration company based in Canada. Its main exploration properties are ADELITA, AURENA, VUELCOS DEL DISTINO and SANTA MARTA in Mexico. Minaurum Gold is listed in Canada. Its market capitalisation is CA$ 43.9 millions as of today (US$ 31.5 millions, € 29.7 millions). Its stock quote reached its highest recent level on March 12, 2010 at CA$ 0.95, and its lowest recent point on December 27, 2013 at CA$ 0.03. Minaurum Gold has 237 482 662 shares outstanding. |